HOUSTON — Levey Group will build an 18,000-square-foot industrial tilt-wall property, located in the Northwest Place Industrial Park at West Little York and Bingle roads in Houston. The build-to-suit property is leased by GHX Industrial. The new facility includes 3,670 square feet of office and showroom space. GHX is slated to take occupancy in September 2012. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented Levey in the lease transaction. Eric Lestin of TGB Crosswell represented the tenant.
NEW BRAUNFELS — Marcus & Millichap has arranged the sale of a 62-room Comfort Suites, located at 1489 Interstate Highway 35 N. in New Braunfels. Allan Miller of Marcus & Millichap's Austin office, along with Chris Gomes of the firm's Dallas office, represented the seller, a limited liability company, in the transaction. Gomes procured the buyer, a private investor.
SANTA ANA, CALIF. — The 84-unit Tustin View apartments in Santa Ana has sold for $14.4 million. The property is located at 2002 and 2010 Ponderosa Street and was built in 1968. The seller was Peak 1031 Exchange, Inc, a California corporation, which acted as a qualified intermediary for JHPark Villa, LLC. The transaction was negotiated by Peter M. Hauser, Robin D. Ossenbeck and Steven C. Brombal of Hendricks & Partners.
VISTA, CALIF. – The 45-unit Newport Vista Apartments in Vista have sold to Tesoro Del Sol I for $5.9 million. The 40,500-square-foot property is located at 845 Newport Terrace Drive. Tesoro was represented by Ethan L. Smith of Real Estate Services. The sellers, Phyllis Newman Foster & William Foster, et al., were represented by Dennis Leslie and Dan Zendejas of ACI.
GLENDALE, CALIF. – A 40-unit apartment property located at 401-403 W. Glenoaks Blvd. in Glendale has sold to Meridian-Kenwood, LLC for $4,462,000. The property was fully occupied at the time of closing. Meridian-Kenwood was represented by Han Widjaja Chen of Colliers International. The seller, Arcadia-based 727 Del Coronado, LLC, was represented by Judy Stevens of Prudential California.
NEW ORLEANS — The 254-room Hyatt French Quarter, located at 800 Iberville St. in New Orleans, has reopened. The hotel recently underwent an $18 million renovation, which included upgrades to the guest rooms, as well as the hotel exterior, lobby, landscaping, pool and deck area decor. Additionally, newly designed food and beverage outlets include bodega-inspired market Powdered Sugar and an upscale lounge called Batch. The Hard Rock Cafe also recently signed a 10,000-square-foot lease at the hotel. The restaurant is slated to open in early 2013. A joint venture between Carey-Watermark Investors and HRI Properties owns the hotel.
FORT CAMPBELL, KY. — Hoar Construction and Paladin Construction Group have been retained to build a $16.19 million, 64,000-square-foot physical fitness facility, located at Fort Campbell. The facility will include cardio and circuit training areas, a free weight area, group exercise rooms, fitness assessment and stretching area, a gymnasium, racquetball courts, men's and women's locker rooms and sauna areas. Additionally, the project includes a multi-purpose athletic field, two softball fields, an indoor climbing wall and a 140-spot parking lot. Gresham Smith & Partners will team with Hoar and Paladin for the design/build facility.
MIAMI — Deerfield Beach, Fla.-based SIKON Construction Co. has broken ground on a $6.5 million, 37,000-square-foot Lorenzo Bomnin Chevrolet dealership, located at 8455 S. Dixie Hwy. in Miami. Howard Nudell designed the property, which is slated for completion in February 2013.
MIAMI — Miami-based Adler Group and Atlanta-based EDI Group have plans to develop two, 20-story luxury apartment towers, located at 7950 NE Bayshore Ct. in Miami. Miami-based Apollo Bank provided acquisition financing for the purchase of the land, which is the previous home of MIke Gordon's Seafood Restaurant. Features will include 13 boat slips zoned for development on Biscayne Bay and a new neighborhood park that will be located directly across 79th Street from the apartment complex. Adler and ECI will dedicate the park, which will be owned by the City of Miami. Groundbreaking is scheduled for later this year and is expected to last 24 months.
NEW ORLEANS — The 111-room Dauphine Orleans Hotel, located at 415-420 Dauphine St. in New Orleans' French Quarter, has received $10 million in financing. Johnson Capital and CRCapital Advisors arranged the 10-year loan with a 25-year amortization schedule through a CMBS lender. The non-recourse debt was used to pay off existing recourse bank debt.